December 2024, Johannesburg – The Good People Data Company, a market leader in digital workflow automation, verification processes, and compliance solutions, is proud to announce that it has agreed terms with REdimension Capital regarding a highly strategic investment into the company.
The transaction is the fourth investment for the REdimension Real Estate Technology and Sustainability Fund, a fund advised by REdimension Capital and backed by strategic partners including Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group and Sphere Holdings, amongst others.
Founded in 2018, The Good People Data Company is a registered credit bureau specializing in cutting-edge solutions that streamline customer, employee, and supplier onboarding processes while ensuring regulatory compliance and operational efficiency. Over six years, the company has built a robust reputation, working with some of South Africa’s most prominent brands and partnering with the Southern African Fraud Prevention Services (SAFPS) to combat fraud, money laundering, and impersonation crimes.
“The investment from REdimension represents a significant milestone for The Good People Data Company,” said JK du Toit, CEO. “With their strategic expertise and resources, we are well-positioned to accelerate our growth, expand into new markets, and continue driving innovation in the verification, compliance, and workflow automation sectors. Together, we will redefine how African businesses navigate the challenges of a digital-first world.”
As digital services expand across Africa, the demand for reliable verification and screening solutions has surged, alongside a 356% rise in digital impersonation fraud attempts from April 2022 to April 2023 according to the Southern African Fraud Prevention Services. The Good People Data Company’s innovative platforms address these challenges with advanced technologies, including biometric verification, anti-money laundering (AML) screening, and real-time compliance checks. By automating labor-intensive processes, the company reduces compliance costs, enhances accuracy, and empowers businesses to counter sophisticated fraud tactics effectively, while also enabling companies to meet growing regulatory requirements.
In addition to verification, the company offers a comprehensive suite of digital solutions, such as contract and lease automation, document management, bank statement retrieval, income and expenditure classification, credit and asset profiling, and collusion monitoring. These tools are tailored to meet the complex and evolving needs of businesses across Africa.
“The backing from REdimension reinforces our mission to deliver scalable, impactful solutions that enable businesses to thrive in an increasingly digital and interconnected world,” added du Toit. “This partnership allows us to further enhance our services and expand our reach, ensuring we remain at the forefront of Africa’s digital transformation.”
Peter Clark, Managing Partner at REdimension Capital, commented: “The Good People Data Company is setting the standard for digital transformation and inclusion in Africa. Their innovative technology not only addresses critical challenges but also unlocks opportunities for sustainable growth. We are excited to support their journey and contribute to their continued success.”
This strategic partnership reflects The Good People Data Company’s long-term vision to lead in verification, compliance, and automation solutions while fostering economic growth across Africa. Together with REdimension Capital, the company aims to shape the continent’s technology landscape and drive sustainable impact.
About The Good People Data Company
Founded in 2018, The Good People Data Company is a registered credit bureau and leader in digital workflow, verification, and compliance solutions. The company empowers businesses across Africa to streamline processes, meet regulatory requirements, and enhance operational efficiency through innovative technology.
About REdimension Capital
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an eco-system at the intersection of real estate, technology and sustainability with the ambition of enhancing operational performance and improving sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology. REdimension Capital is a registered Financial Service Provider (No. 52205).
Contacts
The Good People Data Company
JK du Toit
REdimension Capital
Peter Clark
Matthew Marshall